Donegal Group (NASDAQ:DGICB) Shares Gap Down – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICB) shares gapped down before the market opened on Friday . The stock had previously closed at $22.98, but opened at $20.86. Donegal Group shares last traded at $19.84, with a volume of 914 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Donegal Group Trading Up 3.8%

The company has a fifty day moving average of $21.10 and a two-hundred day moving average of $18.54. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $780.12 million, a price-to-earnings ratio of 12.46 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.15). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC bought a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles.